Some Customers Might Be Worth Losing

Losing a customer now and again might be in the best interest of the company. When would we want to lose a customer? In some cases, a customer requires so much attention and has negotiated such favorable pricing that the gross profit generated from that customer doesn't justify the time and energy devoted to maintaining the relationship. The resources are often needed to build your customer base and develop stronger relationships with more profitable accounts. But before "running off” a customer, do your homework. Are there other reasons to maintain a marginally profitable account such as increased buying power that brings down overall product or input costs?

Good Luck & Good Selling!
Russ

Observe A Process Today

Take the time out of your busy schedule to spend time watching and learning about one of the critical processes occurring in your company. This means getting right in the middle of it and following the process by sitting with employees involved in it and asking questions about the specific activities surrounding it. Since productivity is essential in enhancing profitability, understanding processes and how they have evolved will help identify those that have extra steps in them and/or where there are efficiency and productivity issues. In short, spend time actually doing the steps in various processes and you will learn a lot about them. Sometimes things have been added or changed without your knowledge.

Good Luck & Good Selling!
Russ

To Travel Or Not To Travel

Much of today's business travel is unnecessary. It seems that business people have gotten into a pattern of jumping on an airplane to travel to sales calls, meetings, workshops, conventions, trade shows and other events when much of that travel is unjustified or unnecessary. With the various electronic means of communicating available today, much of the activity that takes place in face-to-face settings can be handled via email, teleconference, fax, the Internet or videoconference. Before deciding to travel, ask yourself if that travel is really necessary. If not, don't go since traveling can be very expensive. It's safe to say that in many companies travel expenses can be reduced by a third or more simply by using alternative means of communicating or by foregoing unnecessary meetings or other events. However, in sales, nothing beats a face-to-face meeting to build trust and develop a relationship. Just make sure you balance these important in-person meetings with more economical alternatives.

Good Luck & Good Selling!
Russ